RE can be very gratifying.Really helping a young couple buy their first home, making it work for them.Solving problems for others and really saving them from what they saw as devastating or an impossible situation like losing a home.Helping others getting started in some business guiding them to success.Being involved in community, providing safe and affordable housing, no hand out but a real hand up.Assisting people to get back on track in their lives from homelessness.Providing housing solutions through redevelopment cleaning up blighted areas for a better community.Forming relationships with professionals and laypersons that seek your advice is gratifying as well.Having the opportunity to pass on your experiences and knowledge, teaching others how to fish is also gratifying.It's not all about the money, it's more about your contributions in life, to your family and your community

The seller has some interesting record keeping where estimation seems to be the favored method of tracking.

Also, strong work on your quick tip intro track on the BP podcast today!

Especially investors with proven track records of success.

From the responses It sounds like I am on the right track with this setup, I.E., interest only loans or complete payoff at sale or JV are the most common structures.

This makes it easy for both tenant and landlord to keep track of everything.

I would only work with a tenant who had a good track record, in a property that was difficult to fill, as opposed to having it become a vacant target for pipe thieves (been there, done that).

Also, I like Yesware to track emails I send.

I just include it in the price of the unit (slightly higher since I pay utilities), installed low-flow shower heads and dual-flush toilet handles, and told the tenants minimizing unnecessary usage helps keep the rents from going up..

:)Historically, real estate has tracked inflation, so holding real estate for a long time is more of a hedge against the decreased value of the dollar than it is an automatic wealth builder.Of course, when you combine time with all the other factors you mentioned, that's where the money comes from...